Kraken adds Solana (SOL), Serum (SRM) Trading, staking support for SOL tokens with up to 6.5% APY also available

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Digital asset company Kraken is happy to confirm that they are registered Solana (SOL) and Serum (SRM) as well as staking support for Solana (SOL) “with up to 6.5% annual rewards”.

As noted in the Kraken announcement, Deposits and Withdrawals for SOL, SRM tokens are now open so users can start depositing at that time. Staking is also available for SOL from June 15, 2021.

As mentioned in the update, SOL and SRM trading and staking are “not available to residents of the United States, Canada, Japan and Australia at this time.”

Here is a summary of the new crypto-assets available for deposit on Kraken:

Solana – Solana is a blockchain platform that “aims to increase user scalability through faster transaction settlement times”. The Solana software includes “a flexible infrastructure that allows developers to write and launch smart contracts using multiple programming languages.”

The SOL cryptocurrency “plays a key role in maintaining and operating the Solana ecosystem and is used to execute smart contracts, send transactions and incentivize the actors who support the network.”

Serum – SRM is the cryptocurrency “used by Serum, software running on Solana where a global network of users maintains an exchange where cryptocurrencies can be bought and sold by traders”. At the heart of its design is “a decentralized order book designed to operate in the same way as traditional exchanges by matching buyers and sellers.” SRM holders can “use their tokens to pay for the costs of the exchange while receiving up to a 50% discount.”

Official project websites:

solana.com
projectserum.com

Funding: “Already available – you can deposit SOL & SRM now.”

Trading: Starts June 17 “at approximately 3:30 p.m. UTC (Kraken will allow order entry and execution at that time)”

SOL staking: Already available today
Updates will be “posted on the status page near the launch time”

Exchange pairs

Each new asset will be “available for trading in USD, EUR, GBP and BTC”.

(Note: For more information on how to deposit, earn, and other information, see here.)

This offer is available on Kraken, KrakenPro. This offer is NOT yet available on OTC, Kraken Futures, Margin Trading

Commenting on whether they will add more assets, Kraken says:

“Yes. But our policy is not to reveal any details until launch, not even what assets we are considering. All of Kraken’s listed tokens are available on our website, and all future tokens will be announced on the blog and profiles. Kraken’s social networks. Our customer engagement specialists cannot answer any questions about any assets that we may list in the future. “

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